Franklin Income Focus ETF (NYSEARCA:INCM) Reaches New 1-Year High – Still a Buy?

Franklin Income Focus ETF (NYSEARCA:INCM) reached a new 52-week high during trading on Monday . The company traded as high as $28.27 and last traded at $28.16, with a volume of 237743 shares traded. The stock had previously closed at $28.07.

Franklin Income Focus ETF Price Performance

The stock has a market capitalization of $951.81 million, a P/E ratio of -47,972.74 and a beta of 0.49. The stock’s fifty day moving average is $27.86 and its two-hundred day moving average is $27.54.

Institutional Investors Weigh In On Franklin Income Focus ETF

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Raymond James Financial Inc. lifted its holdings in shares of Franklin Income Focus ETF by 15.3% during the third quarter. Raymond James Financial Inc. now owns 1,951,973 shares of the company’s stock valued at $54,148,000 after purchasing an additional 258,689 shares during the last quarter. Summit Investment Advisory Services LLC increased its stake in Franklin Income Focus ETF by 6.5% in the 3rd quarter. Summit Investment Advisory Services LLC now owns 971,422 shares of the company’s stock worth $26,947,000 after purchasing an additional 59,238 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in Franklin Income Focus ETF by 32.7% during the 3rd quarter. Ameriprise Financial Inc. now owns 908,507 shares of the company’s stock worth $25,203,000 after buying an additional 223,654 shares during the period. Royal Bank of Canada lifted its stake in Franklin Income Focus ETF by 11.2% during the first quarter. Royal Bank of Canada now owns 798,194 shares of the company’s stock valued at $21,256,000 after buying an additional 80,695 shares in the last quarter. Finally, Larson Financial Group LLC lifted its stake in Franklin Income Focus ETF by 65.3% during the third quarter. Larson Financial Group LLC now owns 550,795 shares of the company’s stock valued at $15,279,000 after buying an additional 217,670 shares in the last quarter.

Franklin Income Focus ETF Company Profile

The Franklin Income Focus ETF (INCM) is an exchange-traded fund that mostly invests in target outcome asset allocation. The fund actively manages a diversified portfolio of equities and debt securities. The fund seeks to maximize income over a full market cycle by utilizing income generation strategies and investing opportunistically across various assets classes, markets, and sectors. INCM was launched on Jun 6, 2023 and is managed by Franklin Templeton.